Business World
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PHL remittances 4th among poorer economies in 2024
THE PHILIPPINES had the fourth-highest remittance levels among low- and middle-income countries (LMICs) this year, with inflows estimated at $40.2 billion, the World Bank said. The bank said its rankings were topped by India ($129 billion), Mexico ($68 billion), and China ($48 billion). Pakistan ($33 billion) placed fifth. “In smaller economies, remittance inflows represent very […] -
Recto: ‘Tweaked’ PIFITA bill to generate P300B by 2030
THE Department of Finance’s (DoF) proposed changes to the Senate’s version of the capital markets reform bill could bring in additional revenue of P300 billion by 2030, Finance Secretary Ralph G. Recto said. “We are raising new revenue. We’ve tweaked the revenue measures (like) the Passive Income and Financial Intermediary Taxation Act (PIFITA),” Mr. Recto […] -
PEZA targets proclamation of 30 new ecozones in 2025
THE Philippine Economic Zone Authority (PEZA) said it is looking to nearly double the number of new economic zone (ecozone) proclamations to 30 next year. In a briefing, PEZA Director-General Tereso O. Panga cited the need to push out development to rural areas and bring more small and medium enterprises (SMEs) into the export economy. […] -
LPG service trainers win Energy dep’t accreditation
THE Department of Energy (DoE) said it accredited three industry associations as authorized training organizations for qualified service persons (QSPs) in the liquefied petroleum gas (LPG) industry. In a statement on Sunday, the DoE said that its Oil Industry Management Bureau (OIMB) granted certificates of recognition to the LPG Industry Association, the LPG Marketers Association, […] -
PHL obtains $501M in ADB funding to boost job quality, infra support
THE Asian Development Bank (ADB) approved two funding packages totaling $501 million for the Philippines to support better job quality and infrastructure project planning. Last week, the bank approved the $500-million Philippines: Business and Employment Recovery Program – Subprogram 2 and the $1-million Preparing and Implementing Climate and Disaster-Resilient Transport Projects. According to the ADB, […]
